Alkermes (ALKS) Downgraded to “Hold” at Jefferies Group

Jefferies Group lowered shares of Alkermes (NASDAQ:ALKS) from a buy rating to a hold rating in a research report report published on Thursday morning. They currently have $66.00 price target on the stock, up from their prior price target of $63.19. Jefferies Group also issued estimates for Alkermes’ FY2022 earnings at $3.83 EPS.

Several other equities analysts have also issued reports on the company. Zacks Investment Research upgraded Alkermes from a hold rating to a buy rating and set a $61.00 target price for the company in a research report on Monday, January 8th. Credit Suisse Group set a $66.00 price objective on Alkermes and gave the company a buy rating in a research report on Tuesday, November 28th. BidaskClub upgraded Alkermes from a sell rating to a hold rating in a research report on Wednesday, December 27th. UBS Group set a $54.00 price objective on Alkermes and gave the company a hold rating in a research report on Friday, October 27th. Finally, Barclays set a $50.00 price objective on Alkermes and gave the company a hold rating in a research report on Thursday, October 26th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $64.17.

Alkermes (NASDAQ ALKS) traded down $6.64 during trading on Thursday, hitting $56.55. The stock had a trading volume of 1,875,900 shares, compared to its average volume of 1,092,247. The firm has a market cap of $8,730.00, a price-to-earnings ratio of -60.30 and a beta of 1.94. Alkermes has a 52 week low of $46.42 and a 52 week high of $71.22. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.78 and a quick ratio of 2.72.

Alkermes (NASDAQ:ALKS) last posted its earnings results on Wednesday, February 14th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.32. The company had revenue of $275.37 million during the quarter, compared to analyst estimates of $251.23 million. Alkermes had a negative return on equity of 4.32% and a negative net margin of 17.48%. The company’s revenue for the quarter was up 29.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.02 EPS. equities research analysts expect that Alkermes will post -0.8 EPS for the current fiscal year.

In other Alkermes news, SVP James M. Frates sold 20,932 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $50.51, for a total transaction of $1,057,275.32. Following the completion of the transaction, the senior vice president now owns 164,971 shares of the company’s stock, valued at approximately $8,332,685.21. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Iain Michael Brown sold 10,652 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $54.81, for a total value of $583,836.12. Following the transaction, the chief accounting officer now directly owns 16,943 shares of the company’s stock, valued at approximately $928,645.83. The disclosure for this sale can be found here. Insiders sold a total of 146,365 shares of company stock valued at $8,994,542 over the last quarter. 5.34% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Woodford Investment Management Ltd boosted its position in Alkermes by 3.4% during the 4th quarter. Woodford Investment Management Ltd now owns 7,585,683 shares of the company’s stock worth $310,628,000 after acquiring an additional 250,000 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Alkermes by 18.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,054,645 shares of the company’s stock worth $221,911,000 after acquiring an additional 628,299 shares during the last quarter. Thornburg Investment Management Inc. boosted its position in Alkermes by 39.8% during the 3rd quarter. Thornburg Investment Management Inc. now owns 2,779,364 shares of the company’s stock worth $141,303,000 after acquiring an additional 790,692 shares during the last quarter. Janus Henderson Group PLC boosted its position in Alkermes by 13.7% during the 3rd quarter. Janus Henderson Group PLC now owns 2,650,006 shares of the company’s stock worth $134,726,000 after acquiring an additional 319,014 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Alkermes by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,333,429 shares of the company’s stock worth $72,934,000 after acquiring an additional 21,608 shares during the last quarter.

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Alkermes Company Profile

Alkermes plc is a biopharmaceutical company. The Company is engaged in the researching, developing and commercializing pharmaceutical products that are designed to address medical needs of patients in therapeutic areas. The Company has a portfolio of marketed drug products and a clinical pipeline of products that address central nervous system (CNS) disorders, such as schizophrenia, depression, addiction and multiple sclerosis (MS).

Analyst Recommendations for Alkermes (NASDAQ:ALKS)

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